Program is intended to overcome Americans reliance on foreign sources.
Eastman Kodak Co. won a $765 million government loan under the Defense Production Act in order to help expedite domestic production of generic drugs that can treat of variety of medical conditions and loosen the U.S. reliance on foreign sources.
The loan is the first of its kind under the Defense Production Act.
President Trump’s Administration and lawmakers on Capitol Hill have expressed concern over U.S. reliance on foreign countries for key materials in drug production. White House trade adviser Peter Navarro said, “If we have learned anything from the global pandemic, it is that Americans are dangerously dependent on foreign supply chains for their essential medicines.”
He added, “This is not about China or India or any one country. It’s about America losing its pharmaceutical supply chains to the sweatshops, pollution havens, and tax havens around the world that cheat America out of its pharmaceutical independence.” Navarro said the White House is considering 30 more companies for DPA funding, but gave no details.
The Rochester, New York, based company has shifted to creating pharmaceutical ingredients in the past decade, which now accounts for about 40 percent of the company’s production.
As the Lord Leads, Pray with Us…
- For companies working under the Defense Production Act to return supply chains in medicines and personal protective equipment, among other things, to the U.S.
- About the need to return independence to America in areas of pharmaceuticals and other key items, including many related to technology.
Sources: The Hill, Wall Street Journal
